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There May Yet be Hope for Lawyers Exploring Relationship and Service Quality for Increased Value and as Competitive Barriers in Legal Departments

January 2022
ManagementBanking & Finance

Abstract

In his ominously titled book, “The End of Lawyers?” , Richard Susskind warns of the impending risk of lawyers being replaced by technology. The legal industry is being fundamentally disrupted by information technology . Technology is dismantling professions, which are “increasingly unaffordable, opaque and inefficient” . Susskind and Susskind argue against the strength of oft-quoted claims by professionals that technology cannot take over services that require human judgment, citing systemization as the enabler of “high-performing, unthinking machines”.

Author

Portrait image of Audrey Ng
Audrey Ng
Head of Legal, South East Asia, State Street, Singapore

Audrey NG joined State Street in 2015 and is the Head of Legal for Institutional Services (South East Asia). Her current responsibilities extend to custody, middle and back office services, as well as trustee services. Apart from having overall responsibility for transactional matters, she provides leadership, advice and guidance to management, business and control teams across a range of matters including coporate governance, fiduciary governance and regulatory changes. Having held several regional roles with custodian banks, Audrey is regarded in the region as a specialist asset servicing lawyer. Audrey left as a partner of a law firm to join the financial services industry 13 years ago, having spent a decade in corporate and commercial private practice in Malaysia, Singapore and Indonesia. Prior to joining State Street, Audrey was one of the lead APAC lawyers for securities services at Northern Trust. Audrey holds an LLB (Hons) from King’s College London. She is a qualified Barrister (Lincoln’s Inn), and is admitted as an advocate and solicitor in Malaysia and Singapore. She was also, in 2021, awarded an MBA (with Distinction) from Warwick Business School.

Company

State Street logo

State Street

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $43.3 trillion in assets under custody and/or administration and $3.9 trillion* in assets under management as of September 30, 2021, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. For more information, visit State Street's website at www.statestreet.com. * Assets under management as of September 30, 2021 includes approximately $60 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

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